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Fourth Sail Capital LP

Q1 2026 · Filed 2026-05-15
Market Value
$552M
+2.3%
Holdings
35
+3
New Purchases
8
Added To
8
Closed
12
Reduced
6
Top 10 Concentration
66.8%
Turnover
57.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MELI 10.31% 0.00% +10.31% $57M
NATL 16.01% 6.22% +9.79% $88M
BCO 7.80% 0.00% +7.80% $43M
TEO 5.29% 0.97% +4.32% $29M
MEOH 3.49% 0.00% +3.49% $19M
IFS 3.36% 0.00% +3.36% $19M
TECK 4.68% 1.32% +3.36% $26M
VIST 3.28% 0.00% +3.28% $18M
YPF 3.04% 0.00% +3.04% $17M
AVO 2.76% 0.13% +2.63% $15M
ERJ 2.00% 0.00% +2.00% $11M
SXT 0.68% 0.00% +0.68% $4M
DLO 5.32% 4.78% +0.55% $29M
GPRK 3.83% 3.29% +0.54% $21M
LILAK 4.40% 4.00% +0.40% $24M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BBAR 0.00% 9.53% -9.53% $0
ACN 0.00% 7.08% -7.08% $0
BAP 0.00% 6.43% -6.43% $0
GDYN 0.63% 6.40% -5.77% $3M
WU 0.00% 4.46% -4.46% $0
STNE 0.00% 3.26% -3.26% $0
TGLS 0.00% 3.23% -3.23% $0
FCFS 0.00% 3.23% -3.23% $0
EZPW 0.00% 3.12% -3.12% $0
GGAL 0.00% 3.08% -3.08% $0
HRL 4.18% 6.33% -2.15% $23M
VLRS 0.00% 1.25% -1.25% $0
TGS 0.00% 1.10% -1.10% $0
BIOX 0.00% 1.05% -1.05% $0
LOMA 4.96% 5.77% -0.80% $27M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 7 $134M 24.2%
Mid Cap 16 $285M 51.6%
Small Cap 11 $134M 24.2%
Micro Cap 1 $0 0.0%

Portfolio Analytics

Avg Market Cap
$12.0B
Median Market Cap
$3.5B
Avg P/E
22.8
Median P/E
18.8
Avg Dividend Yield
0.03%
Avg Beta
0.71
# Stocks
35
# ETFs / Funds
0

Top Holdings (35 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NATL 16.01% 2,028,605 $88M $43.58 $55M +1,147,037 +130.1%
2 MELI 10.31% 32,940 $57M $1,729.02 +32,940 NEW
3 BCO 7.80% 415,428 $43M $103.63 +415,428 NEW
4 DLO 5.32% 2,266,917 $29M $12.97 $4M +443,044 +24.3%
5 TEO 5.29% 2,500,000 $29M $11.69 $24M +2,046,598 +451.4%
6 LOMA 4.96% 2,469,972 $27M $11.09 -$4M +65,900 +2.7%
7 TECK 4.68% 499,272 $26M $51.75 $19M +350,772 +236.2%
8 LILAK 4.40% 2,755,775 $24M $8.82 $3M -139,953 -4.8%
9 HRL 4.18% 1,017,862 $23M $22.65 -$11M -423,800 -29.4%
10 GPRK 3.83% 2,225,933 $21M $9.50 $3M -170,475 -7.1%
11 CEPU 3.51% 1,150,763 $19M $16.83 -$1M -40,726 -3.4%
12 MEOH 3.49% 323,902 $19M $59.54 +323,902 NEW
13 IFS 3.36% 369,900 $19M $50.20 +369,900 NEW
14 VIST 3.28% 240,000 $18M $75.47 +240,000 NEW
15 SLVM 3.27% 427,510 $18M $42.24 $1M +76,878 +21.9%
16 YPF 3.04% 363,690 $17M $46.22 +363,690 NEW
17 CVGW 2.95% 631,037 $16M $25.79 $1M -68,080 -9.7%
18 CPA 2.81% 136,784 $16M $113.61 -$163K +6,584 +5.1%
19 AVO 2.76% 1,109,200 $15M $13.76 $15M +1,046,675 +1674.0%
20 ERJ 2.00% 186,125 $11M $59.34 +186,125 NEW
21 LILA 1.42% 909,742 $8M $8.64 $1M
22 SXT 0.68% 43,172 $4M $86.44 +43,172 NEW
23 GDYN 0.63% 610,322 $3M $5.70 -$31M -3,217,646 -84.1%
24 ACN —% -$38M -142,600 -100.0% SOLD
25 BIOX —% -$6M -4,331,096 -100.0% SOLD
26 BAP —% -$35M -120,988 -100.0% SOLD
27 EZPW —% -$17M -868,717 -100.0% SOLD
28 WU —% -$24M -2,589,752 -100.0% SOLD
29 GGAL —% -$17M -308,728 -100.0% SOLD
30 FCFS —% -$17M -109,416 -100.0% SOLD
31 TGLS —% -$17M -346,991 -100.0% SOLD
32 VLRS —% -$7M -757,761 -100.0% SOLD
33 TGS —% -$6M -191,630 -100.0% SOLD
34 STNE —% -$18M -1,190,557 -100.0% SOLD
35 BBAR —% -$51M -2,847,061 -100.0% SOLD

New Positions

SymbolValue% Port
MELI $57M 10.31%
BCO $43M 7.80%
MEOH $19M 3.49%
IFS $19M 3.36%
VIST $18M 3.28%
YPF $17M 3.04%
ERJ $11M 2.00%
SXT $4M 0.68%

Sold Out Positions

SymbolValue% Port
ACN —%
VLRS —%
WU —%
BAP —%
TGLS —%
TGS —%
EZPW —%
FCFS —%
BIOX —%
STNE —%
GGAL —%
BBAR —%
View SEC EDGAR Filings for Fourth Sail Capital LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms